Rig Count Falls Amid Recovering Oil Prices
Baker Hughes reported a 3-rig decrease for oil and gas in the United States this week. The total number of active oil and gas drilling rigs now stands at 1,079 Continue Reading
The Oil Industry Is Facing A “Capex Conundrum”
Oil industry executives are surely pleased with themselves this year, with both large and small companies reporting improved financials after years of struggling. A Reuters survey finds a significant shift Continue Reading
Is It Too Late To Avoid An Oil Supply Crisis?
Wood Mackenzie isn’t pulling any punches. “The warning signs are there – the industry isn’t finding enough oil.” And its latest report continues in the same ‘spade is a spade’ Continue Reading
Oil Companies Lose $1 Trillion As Prices Crash
Bearish sentiment has taken hold of oil markets, with oil and gas companies having lost $1 trillion since oil began its latest slide. – The Wolfcamp has been one of Continue Reading
IEA’s Birol appeals for ‘common sense’ as oil producers weigh supply cut
Oil supply cuts by key producers could have negative implications for markets, the head of the International Energy Agency said on Monday, appealing to market players to use “common sense”. Continue Reading
IEA Chief Urges Oil Producers Not To Cut Output
While OPEC is considering cutting oil production again, the executive director of the International Energy Agency (IEA), Fatih Birol, called on Monday for ‘common sense’ because fresh cuts could have Continue Reading
Peak oil, 20 years later: Failed prediction or useful insight?
In March 1998, Scientific American published a paper titled “The End of Cheap Oil,” [ 1 ] signed by two petroleum geologists, Colin Campbell and Jean Laherrère. It was Continue Reading
Why US Oil Production Won’t Peak Anytime Soon
The US shale oil revolution continues to defy the skeptics. The U.S. shale oil revolution continues to defy the skeptics, and the country is now producing a record 11 million Continue Reading
The Newest Sweet Spots In U.S. Shale
Over the past three years, the Permian has been the focus of both oil analyst and buyers’ attention. Most of the new drilling and asset acquisitions in America took place Continue Reading
Number of wells producing oil, gas declines
The number of wells producing crude oil and natural gas in the United States declined in 2017, according to the U.S. Energy Information Administration (EIA). © Shutterstock Oil and gas Continue Reading